Southeast Asia’s HappyFresh gets Series B

Previous backers Vertex Ventures and Sinar Mas Digital Ventures also took part in the round. The size of the new investment was not disclosed, but HappyFresh CEO and co-founder Markus Bihler told Techcrunch that it is larger than the $12 million Series A round the company raised in September.

Jakarta-based HappyFresh, founded in 2014, partners with retail chains and employs personal shoppers to fill orders filed through its mobile app. The company charges delivery fees to customers and also receives fees from its retail partners. Online advertising represents an additional revenue stream.

Following the Series B round, HappyFresh decided to close its operations in Taiwan and the Philippines, which have been running for less than one year. It will focus on its three other markets: Indonesia, Malaysia and Thailand. The new capital will go towards increasing product offerings, enlarging the company's motorcycle delivery fleet, and adding partner supermarkets to its platform.

Several other online grocery start-ups have received VC fundin Southeast Asia. Singapore-based Honestbee raised $15 million Series A round led by Formation 8 in October, while RedMart secured a $26.7 million bridge round last August.

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• Topics
• Southeast Asia
• Technology
• Consumer
• Expansion
• Venture
• Indonesia
• Malaysia
• Thailand
• TMT
• Growth capital
• Samena Capital